Silver is among the most traded commodities in the world. India is no exception and silver, along with gold, forms about 10% of all commodities imports to the country. Silver rate in India is directly affected by the global demand and supply scenario of the commodity.
Trend of Silver Rate in India for April 2018 (rates per kg)
April 2018- Week 1 (1st-7th)
- Silver price in India fell over the course of the first week of April due to fluctuating demand, with the industrial metal opening the week at Rs.41,400 per kg.
- Prices fell to Rs.41,300 per kg on 2 April as demand from industry was sporadic due to fluctuating equity markets.
- The decline in the dollar led to an increase in demand from overseas industrial units, resulting in silver prices rising to Rs.41,600 per kg on 3 April.
- Minor dips in local demand from coin makers led to silver trading at Rs.41,500 per kg on 5 April before a sharp drop in local demand pushed prices to Rs.41,000 per kg on 5 April.
- The decline in price continued for the rest of week, as silver ended the week trading at Rs.41,200 per kg on 7 April.
Trend of Silver Rate in India for March 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| Silver Rate on 1st March 2018 | Rs.41,100 per kg |
| Silver Rate on 31st March 2018 | Rs.41,400 per kg |
| Highest Rate in March | Rs.41,900 per kg on 7 March |
| Lowest Rate in March | Rs.41,000 per kg on 19 and 21 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.72% |
March 2018 – Week 1 (1 – 5):
- The price of silver in India in the first week of March saw a slight appreciation as bullion was sought after due to the volatility in equity markets.
- Silver was priced at Rs.41,100 per kg on 1 March as industrial offtake was a bit muted due to a bull run by the U.S. Dollar.
- Demand from local industrial units was also on the decline, though prices did not slide on the static demand.
- Silver rate in India rose to Rs.41,400 per kg on 2 March as news of the trade tariffs led to markets across the globe falling sharply.
- Local equity markets also tumbled as industrial demand for silver was steady, which kept prices at Rs.41,600 per kg on 3 March.
- Silver price in India remained constant for the remainder of the week due to strong demand from both international as well as domestic markets.
- The week ended with silver trading at Rs.41,600 per kg on 5 March.
March 2018 – Week 2 (5-11):
- When silver trading started in India for the week, the metal was priced at Rs.41,600 per kg.
- This fell to Rs.41,400 per kg the next day as demand took a hit owing to poor sales among the industrial units and coin makers around the country.
- On the 7th, silver prices went up to Rs.41,900 per kg as a weak dollar pushed demand for the metal up.
- During the 8th, silver rates in Kerala fell to Rs.41,500 per kg as there was a brief decline in demand.
- Due to poor demand, rates went down to Rs.41,300 per kg on the 9th as demand failed to seen any positive change.
- Demand, however, improved over the final two days and silver traded at Rs.41,600 per kg.
March 2018 – Week 3 (12 – 18):
- When trading commenced for the third week in India, the industrial metal was priced at Rs.41,600 per kg on the 12th amid the strengthening dollar and firmer equities.
- The 13th saw silver prices dropping to Rs.41,400 per kg with demand taking a hit amid the rising greenback and positive reports from the US employment data.
- However, the dismissal of Rex Tillerson led to the US dollar losing considerable ground in the international market. This led to silver price in India surging to Rs.41,700 per kg on the 14th.
- With markets speculating over a possible interest rate hike next week, the US dollar and equities strengthened. This resulted in prices dropping to Rs.41,500 per kg on the 15th which plummeted further to Rs.41,300 per kg the following day.
- Silver rate in India dropped again to Rs.41,100 per kg on the 17th owing to a decline in domestic demand from local industries and coin makers amid weak global trends.
- When trading concluded for the week, silver rates in India were recorded holding at Rs.41,100 per kg on the 18th with markets bracing for the Federal Reserve meeting next week.
March 2018 – Week 4 (19 – 25):
- When trading commenced on 19 March, silver was priced at Rs.41,000 per kg, with a minor dip in price from the previous week observed.
- Local demand from industrial units was steady, as global demand was unsteady due to fluctuating markets.
- Silver price in India rose to Rs.41,200 per kg on 20 March as coin makers increased demand due to a drop in the dollar rate.
- Prices began to recover towards the middle of the week, with Asian industry increasing offtake due to a low dollar rate.
- Apprehension over the Fed’s monetary policy and proposed rate hikes kept markets jittery, which led to an increase in interest in bullion.
- Silver rate in India rose to Rs.41,600 per kg as trading closed on 22 March, as strong demand from investors due to falling equity markets drove prices higher.
- There was no change in price for the rest of the week, as silver closed at Rs.41,600 per kg on 25 March.
March 2018 – Week 5 (26 – 31):
- The final week began in India with silver trading at Rs.41,600 per kg on the 26th with steady demand from industrial units and coin makers.
- The 27th saw silver prices in India surging to Rs.41,800 per kg after the rising tensions between the US and Russian led to investors gravitating on safe-haven assets such as silver during the week.
- However, with the US dollar index gaining against other apex currencies amid the rising equity markets, silver rates in India plunged to Rs.41,500 per kg on the 28th which dropped further to Rs.41,400 per kg on the 29th amid the poor trend overseas.
- Thanks to steady demand from industries and coin makers amid the poor trend overseas, silver prices remained unchanged at Rs.41,400 per kg for the remainder of week.
- India recorded an incline of 0.72% in silver rates due to the positive global cues that pushed demand higher during the month.
Trend of Silver Rate in India for February 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| Silver rate on 1st February 2018 | Rs.42,600 per kg |
| Silver rate on 28th February 2018 | Rs.41,200 per kg |
| Highest Rate in February | Rs.41,600 per kg on 1 and 2 February |
| Lowest Rate in February | Rs.40,600 per gram on 10 and 11 February |
| Overall Monthly Performance | Decline |
| Percentage Change | -3.28% |
February 2018 – Week 1 (1st – 4th)
- Trading began in India with silver priced at Rs.42,600 per kg on the 1st with an increase in offtake by industrial units and coin makers.
- Prices remained untouched at Rs.42,600 per kg on the 2nd with steady industrial demand for the white metal.
- The 3rd, however, saw silver rate in India plunging to Rs.41,700 per kg after the US dollar gained against other apex currencies ahead of the highly optimistic US employment data.
- The week concluded with silver holding at Rs.41,700 per kg on the 4th with steady demand from industries and coin manufacturers.
February 2018 – Week 2 (5th -11th)
- The white metal traded at Rs.41,500 per kg in India when trading commenced for the 5th of February.
- Silver rate in India surged to Rs.41,900 per kg on the 6th due to demand increasing from coin makers and industrial units went up.
- The 7th saw demand drop, pushing silver prices down to Rs.41,400 per kg. This dropped further by Rs.600 the next day to Rs.40,800 per kg as demand failed to pick up.
- On the 9th, silver price in India solidified marginally for the metal to trade at Rs.41,000 per kg but a falling demand caused rates to drop to Rs.40,600 per kg on the 10th.
- The final day of this week saw little change in demand, which led to silver prices remaining at Rs.40,600 per kg.
February 2018 – Week 3 (12th – 18th)
- The week commenced in India with silver trading at Rs.40,900 per kg on the 12th amid the weakening US dollar equities ahead of the US inflation data during the week.
- With the US dollar losing against a basket of other emerging currencies, silver price in India rose to Rs.41,300 per kg on the 13th which surged further to Rs.41,400 per kg on the 14th amid the firm overseas trends.
- The 15th saw silver rate in India rising for the fourth straight session with the US dollar touching near two-month lows in the world market. The industrial metal was recorded trading at Rs.41,800 per kg.
- However, with the US dollar gaining marginally following the release of the US price data, silver rate in India plunged to Rs.41,700 per kg on the 16th.
- The rest of the week witnessed the white metal holding firm at Rs.41,700 per kg with steady demand from industrial units and coin manufacturers.
February 2018 – Week 4 (19th – 25th)
- Silver opened at Rs.41,600 per kg on the 19th of February but dropped to Rs.41,200 per kg during the next day’s trade.
- The white metal opened at RS.41,200 per kg on the 21st as well before rising to Rs.41,400 per kg on the 22nd as demand surged after the Fed Reserve minutes were being unveiled.
- On the 23rd, silver rate in India went up to Rs.41,600 per kg before falling to Rs.41,500 per kg on the 24th of the month.
- The final day of this week saw gold rate in India drop to Rs.41,500 per kg as demand seemed to decline slightly.
February 2018 – Week 5 (26th – 28th)
- Trading began for the week with silver priced at Rs.41,600 per kg on the 26th amid firm overseas trends.
- However, with the US dollar index rising against other apex currencies, silver rate in India rose to Rs.41,700 per kg on the 27th.
- The month came to an end with the industrial metal being priced as low as Rs.41,200 per kg on the 28th owing to the strengthening US dollar and firmer equities.
- Indian registered a decline of 3.28% in silver rates during the month.
Trend of Silver Rate in India for January 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| Silver Rate on 1st January 2018 | Rs.38,925 per kg |
| Silver Rate on 31st January 2018 | Rs.42,200 per kg |
| Highest Rate in January | Rs.43,100 per kg from 26 to 28 January |
| Lowest Rate in January | Rs.38,925 per kg on 1 January |
| Overall Monthly Performance | Incline |
| Percentage Change | 8.41% |
Silver Price In Indian Cities
| City | Silver (1 gram) | Bar Silver (1 Kg) |
| AGRA | ₹ 41.9 | ₹ 41,900 |
| AHMEDABAD | ₹ 41.9 | ₹ 41,900 |
| ALIGARH | ₹ 41.9 | ₹ 41,900 |
| ALLAHABAD | ₹ 41.9 | ₹ 41,900 |
| AMBALA | ₹ 41.9 | ₹ 41,900 |
| AMRAVATI | ₹ 41.9 | ₹ 41,900 |
| AURANGABAD | ₹ 41.9 | ₹ 41,900 |
| BANGALORE | ₹ 41.9 | ₹ 41,900 |
| BAREILLY | ₹ 41.9 | ₹ 41,900 |
| BELGAUM | ₹ 41.9 | ₹ 41,900 |
| BELLARY | ₹ 41.9 | ₹ 41,900 |
| BHILAI | ₹ 41.9 | ₹ 41,900 |
| BHOPAL | ₹ 41.9 | ₹ 41,900 |
| BHUBANESHWAR | ₹ 41.9 | ₹ 41,900 |
| CHANDIGARH | ₹ 41.9 | ₹ 41,900 |
| CHENNAI | ₹ 41.9 | ₹ 41,900 |
| COIMBATORE | ₹ 41.9 | ₹ 41,900 |
| CUTTACK | ₹ 41.9 | ₹ 41,900 |
| DEHRADUN | ₹ 41.9 | ₹ 41,900 |
| DELHI | ₹ 41.9 | ₹ 41,900 |
| DINDIGUL | ₹ 41.9 | ₹ 41,900 |
| ERODE | ₹ 41.9 | ₹ 41,900 |
| FARIDABAD | ₹ 41.9 | ₹ 41,900 |
| GHAZIABAD | ₹ 41.9 | ₹ 41,900 |
| GULBARGA | ₹ 41.9 | ₹ 41,900 |
| GUNTUR | ₹ 41.9 | ₹ 41,900 |
| GURGAON | ₹ 41.9 | ₹ 41,900 |
| GUWAHATI | ₹ 41.9 | ₹ 41,900 |
| HALDWANI | ₹ 41.9 | ₹ 41,900 |
| HISAR | ₹ 41.9 | ₹ 41,900 |
| HOSUR | ₹ 41.9 | ₹ 41,900 |
| HYDERABAD | ₹ 41.9 | ₹ 41,900 |
| INDORE | ₹ 41.9 | ₹ 41,900 |
| JABALPUR | ₹ 41.9 | ₹ 41,900 |
| JAIPUR | ₹ 41.9 | ₹ 41,900 |
| JALGAON | ₹ 41.9 | ₹ 41,900 |
| JAMMU | ₹ 41.9 | ₹ 41,900 |
| JAMNAGAR | ₹ 41.9 | ₹ 41,900 |
| JAMSHEDPUR | ₹ 41.9 | ₹ 41,900 |
| JODHPUR | ₹ 41.9 | ₹ 41,900 |
| KAKINADA | ₹ 41.9 | ₹ 41,900 |
| KANNUR | ₹ 41.9 | ₹ 41,900 |
| KANPUR | ₹ 41.9 | ₹ 41,900 |
| KARNAL | ₹ 41.9 | ₹ 41,900 |
| KARUR | ₹ 41.9 | ₹ 41,900 |
| KOCHI | ₹ 41.9 | ₹ 41,900 |
| KOLHAPUR | ₹ 41.9 | ₹ 41,900 |
| KOLKATA | ₹ 41.9 | ₹ 41,900 |
| KOTA | ₹ 41.9 | ₹ 41,900 |
| KOZHIKODE | ₹ 41.9 | ₹ 41,900 |
| KURNOOL | ₹ 41.9 | ₹ 41,900 |
| LUCKNOW | ₹ 41.9 | ₹ 41,900 |
| LUDHIANA | ₹ 41.9 | ₹ 41,900 |
| MADURAI | ₹ 41.9 | ₹ 41,900 |
| MALAPPURAM | ₹ 41.9 | ₹ 41,900 |
| MANGALORE | ₹ 41.9 | ₹ 41,900 |
| MEERUT | ₹ 41.9 | ₹ 41,900 |
| MUMBAI | ₹ 41.9 | ₹ 41,900 |
| MYSORE | ₹ 41.9 | ₹ 41,900 |
| NAGERCOIL | ₹ 41.9 | ₹ 41,900 |
| NAGPUR | ₹ 41.9 | ₹ 41,900 |
| NANDED | ₹ 41.9 | ₹ 41,900 |
| NASIK | ₹ 41.9 | ₹ 41,900 |
| NELLORE | ₹ 41.9 | ₹ 41,900 |
| NOIDA | ₹ 41.9 | ₹ 41,900 |
| PANAJI | ₹ 41.9 | ₹ 41,900 |
| PATNA | ₹ 41.9 | ₹ 41,900 |
| PONDICHERRY | ₹ 41.9 | ₹ 41,900 |
| PRODDATUR | ₹ 41.9 | ₹ 41,900 |
| PUNE | ₹ 41.9 | ₹ 41,900 |
| RAIPUR | ₹ 41.9 | ₹ 41,900 |
| RAJAHMUNDRY | ₹ 41.9 | ₹ 41,900 |
| RAJKOT | ₹ 41.9 | ₹ 41,900 |
| RANCHI | ₹ 41.9 | ₹ 41,900 |
| RATLAM | ₹ 41.9 | ₹ 41,900 |
| SALEM | ₹ 41.9 | ₹ 41,900 |
| SANGLI | ₹ 41.9 | ₹ 41,900 |
| SHIMLA | ₹ 41.9 | ₹ 41,900 |
| SHIMOGA | ₹ 41.9 | ₹ 41,900 |
| SILIGURI | ₹ 41.9 | ₹ 41,900 |
| SOLAPUR | ₹ 41.9 | ₹ 41,900 |
| SRINAGAR | ₹ 41.9 | ₹ 41,900 |
| SURAT | ₹ 41.9 | ₹ 41,900 |
| THANE | ₹ 41.9 | ₹ 41,900 |
| THANJAVUR | ₹ 41.9 | ₹ 41,900 |
| THIRUVANANTHAPURAM | ₹ 41.9 | ₹ 41,900 |
| THRISSUR | ₹ 41.9 | ₹ 41,900 |
| TIRUCHIRAPALLI | ₹ 41.9 | ₹ 41,900 |
| TIRUNELVELI | ₹ 41.9 | ₹ 41,900 |
| TUTICORIN | ₹ 41.9 | ₹ 41,900 |
| UDAIPUR | ₹ 41.9 | ₹ 41,900 |
| UDUPI | ₹ 41.9 | ₹ 41,900 |
| VADODARA | ₹ 41.9 | ₹ 41,900 |
| VARANASI | ₹ 41.9 | ₹ 41,900 |
| VELLORE | ₹ 41.9 | ₹ 41,900 |
| VIJAYAWADA | ₹ 41.9 | ₹ 41,900 |
| VISAKHAPATNAM | ₹ 41.9 | ₹ 41,900 |
| WARANGAL | ₹ 41.9 | ₹ 41,900 |
